Question 1

If I did not file my tax return on due, what will happen?

admin · Accepted Answer

It is your responsibility to file your tax return within the due date. If you miss the due date, you may face several problems. For example, your child tax, GST/HST or trillium benefits may be stopped. However, you can file your tax returns even after the due date. If you do not balance owing, you are not penalized. We can help you to file your previous tax returns for up to 10 years.

Question 2

What makes Birchcliff Financial different from others?

admin · Accepted Answer

Guaranteed accuracy, confidentiality, customer satisfactions, qualified professionals, open year round, etc.

Question 3

What do I need to do my personal tax filing?

admin · Accepted Answer

All T4, T4A, T4E, T4RSP, RC-62, T3, T5 and other income slips, For rental income: Rental income & all home related expenses. For self-employed / corporation: Bank statements, all income and expenses slips. Your last year notice of assessment / reassessment.

Question 4

How to adjust my prior years' mistake?

admin · Accepted Answer

In this scenario, you cannot do your tax file again of that year(s). You have to do your T-1 adjustment, and send it to CRA by post.

Question 5

What documents do I require for filing my tax if I am a self-employed?

admin · Accepted Answer

For a self-employed tax return, you need to keep all the bank statements, your income slips, and all the invoices (expenses receipts) related to business. When you have a car and you are using it for your business, you have to preserve fuel, repairs and maintenance, lease payments (if applicable), and other vehicle related expenses.

Question 6

I have a property and rental income, what documents do I need to keep for my tax return?

admin · Accepted Answer

If you do not have any rental income, you need to keep the property tax receipt for tax purpose. When you have rental income, you require to preserve all of your house related expenses receipts or documents, such as, home insurance, interest paid for mortgage, legal fees, management and administration fees (applicable for condo), maintenance and repair, property tax and utility (hydro, water, gas etc.) bills.

Question 7

What can be happen if I don't file my tax returns or pay taxes?

admin · Accepted Answer

It is your responsibility to submit your tax return and pay taxes (if applicable) within due date. If your corporation is tax owing and does not pay the balance owing, CRA may freeze your bank account, garnish your receivables, and even can put a lien on your property. They can also put you on a trial through the courts.

Question 8

How much does it cost to my personal tax?

admin · Accepted Answer

For new clients, approximate cost starts from $20. Cost may vary depends on new client, number of slips, T4s, senior citizen, students, etc.

Question 9

How to become a client in Birchcliff Financial

admin · Accepted Answer

All Canadaina citizen over 18 can become our clients. Call us or email us with your name, contact number. We will be happy to register you as our new client.

Question 10

If I did not file my tax return on due, what will happen?

admin · Accepted Answer

It is your responsibility to file your tax return within the due date. If you miss the due date, you may face several problems. For example, your child tax, GST/HST or trillium benefits may be stopped. However, you can file your tax returns even after the due date. If you do not balance owing, you are not penalized. We can help you to file your previous tax returns for up to 10 years.

Question 11

What makes Birchcliff Financial different from others?

admin · Accepted Answer

Guaranteed accuracy, confidentiality, customer satisfactions, qualified professionals, open year round, etc.

Question 12

What do I need to do my personal tax filing?

admin · Accepted Answer

All T4, T4A, T4E, T4RSP, RC-62, T3, T5 and other income slips, For rental income: Rental income & all home related expenses. For self-employed / corporation: Bank statements, all income and expenses slips. Your last year notice of assessment / reassessment.

Question 13

How to adjust my prior years' mistake?

admin · Accepted Answer

In this scenario, you cannot do your tax file again of that year(s). You have to do your T-1 adjustment, and send it to CRA by post.

Question 14

What documents do I require for filing my tax if I am a self-employed?

admin · Accepted Answer

For a self-employed tax return, you need to keep all the bank statements, your income slips, and all the invoices (expenses receipts) related to business. When you have a car and you are using it for your business, you have to preserve fuel, repairs and maintenance, lease payments (if applicable), and other vehicle related expenses.

Question 15

I have a property and rental income, what documents do I need to keep for my tax return?

admin · Accepted Answer

If you do not have any rental income, you need to keep the property tax receipt for tax purpose. When you have rental income, you require to preserve all of your house related expenses receipts or documents, such as, home insurance, interest paid for mortgage, legal fees, management and administration fees (applicable for condo), maintenance and repair, property tax and utility (hydro, water, gas etc.) bills.

Question 16

What can be happen if I don't file my tax returns or pay taxes?

admin · Accepted Answer

It is your responsibility to submit your tax return and pay taxes (if applicable) within due date. If your corporation is tax owing and does not pay the balance owing, CRA may freeze your bank account, garnish your receivables, and even can put a lien on your property. They can also put you on a trial through the courts.

Question 17

How much does it cost to my personal tax?

admin · Accepted Answer

For new clients, approximate cost starts from $20. Cost may vary depends on new client, number of slips, T4s, senior citizen, students, etc.

Question 18

How to become a client in Birchcliff Financial

admin · Accepted Answer

All Canadaina citizen over 18 can become our clients. Call us or email us with your name, contact number. We will be happy to register you as our new client.

FAQ

If I did not file my tax return on due, what will happen?

What makes Birchcliff Financial different from others?

What do I need to do my personal tax filing?

How to adjust my prior years’ mistake?

What documents do I require for filing my tax if I am a self-employed?

I have a property and rental income, what documents do I need to keep for my tax return?

What can be happen if I don’t file my tax returns or pay taxes?

How much does it cost to my personal tax?

How to become a client in Birchcliff Financial

If I did not file my tax return on due, what will happen?

What makes Birchcliff Financial different from others?

What do I need to do my personal tax filing?

How to adjust my prior years’ mistake?

What documents do I require for filing my tax if I am a self-employed?

I have a property and rental income, what documents do I need to keep for my tax return?

What can be happen if I don’t file my tax returns or pay taxes?

How much does it cost to my personal tax?

How to become a client in Birchcliff Financial